JCI Opens Lower 1.94 Percent at 5,486, Analysts See Potential Rebound

RRI.CO.ID, Jakarta - The Jakarta Composite Index (JCI) on the Indonesia Stock Exchange (IDX) opened lower on Monday, June 8, 2026. At the start of trading, the JCI was in the red at 5,486.31, down 108.45 points, or 1.94 percent.

Despite the decline, analysts say the JCI has the potential to rebound today. Last weekend, the index plunged 4.2 percent, or 245 points, to close at 5,594.77.

“The JCI has the potential to test the support level at 5,450–5,500,” said Head of Retail Research at BNI Sekuritas, Fanny Suherman. She added that if the index holds at that level, it could rebound.

Fanny projected that the JCI would move within the support range of 5,450–5,500 and the resistance range of 5,680–5,800. She noted that the index remains under pressure from foreign net selling. On Friday, June 5, foreign capital outflows reached IDR 3.72 trillion (USD 204.97 million), with TPIA, BBCA, BMRI, ANTM, and BBRI among the most heavily sold stocks.

Meanwhile, analysts at Phintraco Sekuritas forecast that the JCI will continue to trade erratically, with support at 5,400–5,500 and resistance at 5,700–5,800. “Factors that could influence the JCI’s movement include the weakening of the rupiah,” the team said.

Speculation has also emerged that Bank Indonesia (BI) may hold an emergency Board of Governors' Meeting. Rumors of changes in the Minister of Finance and the BI Governor have added to market uncertainty.

“This pressure is compounded by concerns over a potential credit rating downgrade by S&P and fears of a downgrade to Frontier Market status by MSCI,” the Phintraco team stated. Negative responses to several government policies have further weighed on the index.

Market participants are also awaiting the release of key economic data, including foreign exchange reserves for May 2026, the Consumer Confidence Index (CCI), and retail sales figures for April 2026.

Across Asia, stock markets fell sharply last weekend, mirroring declines in the US market, which was hit by a sell-off in technology stocks.

“Global investors will continue to monitor developments in the US–Iran conflict,” said the Phintraco team, noting its potential impact on inflation and interest rate prospects. (Gusti Panji)